This position will be in Muscat on a 5 day paid, two days off unpaid rotation.

Lead the finance support to the Rig In sourcing team by taking responsibility to provide comprehensive and value adding finance advice, support and challenge, while ensuring compliance with internal and external controls and reporting requirements

The Rig In sourcing team is a ring-fenced team within Wells Engineering Directorate that is responsible for managing owned rigs and hoists. Rig In-sourcing is a high profile new strategic initiative whereby the client will acquire and operate 4 rigs and 5 hoists, rather than following the established model of contracting with third party rig and hoist operators.

The Senior Management Accountant will play a leading role in fulfilling the key objectives of the Rig In-Sourcing strategy to improve operating costs, performance, and reliability. He/she is a member of the Rig In-sourcing Leadership Team whilst reporting to the Wells Finance Manager.

Develop and deliver high quality Management Information reporting for Rig Insoucing as a stand alone business unit, based on value drivers in comparison to Budget, Past Year, Latest Estimate etc. and carry out variance analysis along with commentary which is forward looking & Backward looking, scenario based and action oriented.

Develop and deliver shadow Profit & Loss tracking of the Rig IN-Sourcing business, use this as a basis for external bench-marking, and recommend areas for improvement

Deliver performance tracking of the Service Level Agreement between the rig in-sourcing business and the Well Engineering department

Closely monitor and control unit cost performance as well as actual expenditure and latest estimates against the approved budget. Ensure changes in business activities and cost drivers are reflected

Deliver expenditure exposure challenge through leading expenditure performance appraisals and liaise with the Finance Operations team for any accrual discrepancies

Own and Maintain the Rig In-sourcing cost model and design and implement a mechanism to monitor and report the performance against the benchmarks, taking particular care to maintain like-for-like compatibility

Ensure effective and correct cost allocation mechanisms are in place with a view to simplify and streamline the allocation process

Raise cost awareness and cost consciousness with the budget holders

Support the Management of Change process in the Directorate

Monitor cumulative commitment and expenditure against contracts/projects and ensure liaison with contract and budget holders on outcomes.

Participate in the challenge and formulation of the rig insourcing strategy and tactics with full understanding of key business assumptions, challenges, risks and opportunities.

Provide valuable insights, interpret,explain and drive the performance within the rig in-sourcing business

Ensure preparation of Well Services Cost Catalog

Manage/Supervise preparation of the Rig In-sourcing Budget,tariff structure and budget allocations

Lead pro-active and compliant budget management

Coordinate identification for cost savings and increasing efficiency opportunities within the Rig In-sourcing operations

Thoroughly understand the business operations, drivers, overall contract strategy/tactics and controls.

Build effective relationships with the business and other stakeholders

Act as first point of call for all finance related queries from the rig in-sourcing business

Build strong professional relationships with Finance Operations team and ensure effective business communication with them

Assist the business in identifying,framing and analyzing new business opportunities

Ensure adequate governance, risk and assurance processes are in place, operating effectively for the rig in-sourcing department

Ensure active follow up on audits and incidents and actively contribute to the rig in-sourcing department risk and opportunity management

Supervise and coach the Rig In-sourcing Management Accountant and take full accountability for team deliverable s

Provide guidance and coaching, define and follow up on learning and development, execute performance appraisal and support competency development for the Rig In-sourcing Management Accountant

Identify, share and implement continuous Lean improvement ideas/opportunities with the department using Lean principles

Facilitate Performance improvement, Contract reviews, Process reviews of management and business processes, SAP system improvements and decision making processes by embedding Lean principles. Enhance controls whilst simplifying/improving processes and maintaining up to date finance standard operating procedures.

Position Requirements

Mastery in Management Information Analysis & Reporting

Mastery in Planning, Target Setting and Budgeting

Skilled in:

Accounting Policies & Standards

Financial Controls

Performance Management & Appraisal

Governance, Risk and Assurance

ERP Systems (inc. Excel and Financial Modeling Skills)

University degree in finance/accounting or MBA Finance, preferably with a professional accounting qualification equivalent to ACA,ACCA or CIMA or MBA Finance

Minimum of 7 years experience in a variety of Finance positions, preferably in Upstream or rig/oil services.

Must have at least 2 years of experience in Business Finance Role

 

 

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